Equity

Equity is your live account value: your balance combined with the floating profit or loss of any open positions. If you closed everything right now, your equity is roughly what you’d be left with.

In MT4’s Terminal ▸ Trade tab you’ll see balance, equity, margin, free margin, and margin level side by side. When trades move in your favour, equity rises above balance; when they move against you, it falls below.

Equity matters because margin requirements and margin calls are measured against it, not your balance.